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However the regulation says you have reached invest for 2 years which is all. Second, at one of the stakeholders conferences place on by USCIS, I asked an inquiry: Have you done any type of research study on just how much cash remains past the 2 years? And the response was no


Legislator Grassley. Thanks, Mr. Chairman. I want to have a 2nd round. Chairman Leahy. Definitely. Allow me just ask, Mr. Divine, you hear this criticism that the money only needs to remain invested for 2 years. Has that been your experience? Mr. Divine. If money obtains placed right into a resort, as I was beginning to describe earlier, the developer of that job would certainly have to have the ability to locate someone to acquire the resort or would certainly have to be able to find somebody to refinance it with various other money.






It is not any simpler always than when it remained in the conditions that brought about the foreign investors being the very best alternative for financing the point in the very first place. Hey, if it is a successful task, it makes money, and it can be offered, I do not see any reason why the task should not be able to be marketed and for the investor to be able to recognize the return of his financial investment, maybe get on his financial investment, just like every various other capitalist.

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If you have a project that is moneyed directly via the Immigrant Investor Program and it is thought to be utilizing undocumented employees, Immigration and Traditions Enforcement could check out the employer, could they not? Mr. Divine.


Chairman Leahy. That would be the very same with any type of firm. Mr. Divine. Every one of these companies is required to finish the I-9 form, however USCIS goes an action additionally and does a check of some kind that led to the situation that has actually been discussed. Chairman Leahy. I am not a her response witness below, but I am so struck by Mr.


I imply, I advise that all of you really-- Mr. North, in your instance, go out from inside the Beltway and increase there and chat with some of these individuals. For one point, you do not have way too many illegal aliens who rather have the Vermont accent you listen to around there, especially find out here when they speak concerning their grandparents that live there, and parents and so forth.


They will say, "We have actually got concerning nine people right here, and we have been right here because 5 o'clock this early morning, Mister." [Laughter.] Chairman Leahy. Not fairly what an unlawful immigrant may be stating. I assume Mr. Stenger would claim that one of his British investors was believing, "Are we all talking the exact same language below?" Mr.


I asked Mr. Stenger this. Let me ask you what your experience is as a former firm official. What does it do if Congress maintains tasting a last-minute reauthorization? In this instance it would certainly be, I believe, September of following year, September of 2012. What does that do to an agency trying to carry out a program if Congress waits until the last few days to reauthorize it? What is the sensible effect? Mr.

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I indicate, the firm in result is-- USCIS is a fee-funded firm, so it is essentially kind of running a company and has to cover its costs with the earnings that is produced. To run this program properly, USCIS requires to staff up in a big way, handling the volume that is already there and anticipating the enhanced volume of more investment as we get back at near fifty percent of the 10,000 visas that are readily available in this group.

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I imply, that has reached seem like a conflicting situation, and you would visualize that it is going to hold somebody back. Now, I am not stating that they are keeping back, and I recognize that they are attempting to staff up because I am sure they believe and hope that the program will be reauthorized for the benefit of the Nation.


And is that truly where they are mosting likely to have the ability to spend their time and sources in attempting to clean up the rules of official source this program to ensure that everybody understands whether they can qualify or not and which type of jobs are going to qualify and so forth? We need that continuously.


And, Mr. EB5 Regional Center Program. Stenger, we in Vermont-- again, a small State, but we have the State federal government involved with the Vermont Regional Facility. Does that add benefits to Vermont's program? Mr. Stenger. The fact that the State of Vermont is the local center administrator, and in fact I presume you would certainly call it the owner of the regional center, has been a tremendous advantage.